Stocks end down after fresh bout of violence

Karachi: Pakistani stocks ended lower yesterday after a militant attack on a mosque near army headquarters that killed at least 39 people hurt trade that was already thin because of security worries, dealers said.

The Karachi Stock Exchange (KSE) benchmark 100-share index ended 0.96 per cent, or 87.10 points, lower at 9,009.13 on turnover of 55.97 million shares.

"The attack did have a negative impact but since the start of the day activity has been very dull," Sajid Bhanji, a dealer at brokers' Arif Habib Ltd., said

Used to it

Pakistan has been plagued by militant violence over recent years, especially since mid-2007, but dealers said the negative impact of attacks was easing as violence was occurring on an almost daily basis and investors were getting used to it.

But trading volume has been low in recent weeks because of security worries, with militants killing 100s of people in bombings since the army launched an offensive in the South Waziristan region in October.